Ethereum fails to stay above the $ 300 level


Analysis of the price of the ether

According to an etnews article this morning the hourly chart indicators are also in bullish territory.

As mentioned, the ether exceeded $ 300 and $ 306 and moved to a level of $ 320. Ether also moved in relation to the price of the bitcoin. Ether found solid support near $ 280 and started an upward move. Although there has been some fighting on the two resistance levels, buyers have finally managed to break through.

The price reached $ 321.12 before going back but the broken resistance of $ 305 to $ 306 acted as support. A bullish trend line with support for $ 304 has also been created. The most important support is $ 300.

The six-hour chart shows positive signs. It seems that the price of ether could continue to rise towards the resistance level $ 330. The next significant barrier after that would be $ 350 which was previously a crucial support.

There is a fundamental uptrend line formed by lows with support at the $ 298 level. Overall, price action would suggest a positive technical structure above the $ 300 and $ 298 level, both on the hourly table and on the 6-hour ethereum table.

Important levels

Two major resistance levels are $ 320 and $ 330.

Important support levels are $ 306 and $ 300.

The relative strength index RSI is above 60 a bullish sign.

The MACD, a moving average divergence of convergence, is also found in the bullish zone.

Ethereum fails to stay above the $ 300 level

A Cointelegraph article on a second day points out: "Ethereum (ETH) failed to maintain the support of $ 300, traded at $ 291 at the time of printing. The main altcoin suffered a loss of 3.74% in a period of 24 hours, even failing to maintain momentum during the week with a loss of 11% in the last 7 days. "

Current situation

At 11:50 pm UTC just before closing, ethereum was still marginally below the $ 300 level at $ 296. It seems like the bullish prospect may be a bit optimistic, but then Sunday is another day and the situation could improve. However, it now seems that ethereum will close lower than its open and perhaps even below the $ 300 level. The current price of ethereum can be found here. Ethereum is the second largest cryptogenin by market capitalization, only the bitcoin is larger.

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